CARLSBAD, Calif., Oct. 13, 2015 (GLOBE NEWSWIRE) -- Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a global provider of spinal fusion technologies, today announced preliminary estimated revenue results for the third quarter of fiscal year 2015, ended September 30, 2015.
Third Quarter 2015 Preliminary Revenue Results:
- Third quarter 2015 total revenue of approximately $43.0 million.
- U.S. revenue of approximately $27.4 million.
- International revenue of approximately $15.6 million.
Stabilized U.S. Business:
- U.S. third quarter revenue up by approximately $0.2 million, or 0.5%, from the second quarter of 2015.
Continued Strength Internationally:
- International third quarter revenue up by approximately $2.1 million, or 13%, on a constant currency basis, from the third quarter of 2014.
“Our third quarter results demonstrate that we have stabilized our U.S. business,” commented Jim Corbett, President and Chief Executive Officer of Alphatec Spine. “We have significantly expanded our coverage in those territories of the U.S. market where we historically did not have Alphatec representation. Through this expansion we have increased the number of distributor relationships and the surgeon customers that we serve. We estimate that we will realize at least $3M of revenue from these new markets in the U.S. in the fourth quarter. Increasing our global commercial participation in the spinal fusion market remains a key pillar of our overall company strategy and we are making meaningful progress both in the U.S. and internationally. Our efforts during the third quarter to expand and transform our commercial execution will support future revenue growth for Alphatec in 2016 and beyond.”
Guidance
Alphatec Spine will discuss guidance for the full year 2015 during its third quarter results conference call to be held on Tuesday, November 3rd, 2015.
Third Quarter Results Conference Call Details
Alphatec Spine expects to file a more detailed press release regarding its third quarter 2015 results and outlook for the remainder of the year on Form 8-K on Tuesday, November 3, 2015. In addition, Alphatec Spine anticipates filing its Form 10-Q for the three months ended September 30, 2015 on such date or shortly thereafter. The Company will host a conference call with Jim Corbett, President and Chief Executive Officer of Alphatec Spine, as well as key members of the management team on November 3, 2015 to review its third quarter 2015 results and future outlook for the Company for the remainder of 2015. Details related to this call are as follows:
| Date: | Tuesday, November 3, 2015 |
| Time: | 5:00 PM Eastern Time; 2:00 PM Pacific Time |
| Conference: | ID # 60386444 |
| Dial In: | Toll free dial-in number: (877) 556-5251 |
| | International dial-in number: (720) 545-0036 |
| Webcast: | www.AlphatecSpine.com, accessed through the Investor Relations page of the |
| | Company’s website. The webcast will be archived for at least 30 days following the call. |
About Alphatec Spine
Alphatec Spine, Inc., a wholly owned subsidiary of Alphatec Holdings, Inc., is a global medical device company that designs, develops, manufactures and markets spinal fusion technology products and solutions for the treatment of spinal disorders associated with trauma, congenital deformities, disease and degeneration. The Company's mission is to improve lives by delivering advancements in spinal fusion technologies. The Company and its affiliates market products in the U.S. and internationally via a direct sales force and independent distributors.
Additional information can be found at www.alphatecspine.com.
Forward Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Alphatec Spine cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors. Forward looking statements include references to Alphatec Spine's 2015 revenue (including without limitation, the approximated revenues for the third and fourth quarters of 2015 that are set forth in this press release) and adjusted EBITDA projections; the success of the Company's initiatives to drive global sales growth and expand its geographical sales coverage, including without limitation the Company’s ability to realize $3.0 million in new revenues in the fourth quarter of 2015 based on the Company’s U.S. sales expansion efforts; the Company’s initiatives to increase margins and increase operating efficiencies; and the Company’s ability to ensure that the addition of revenues derived from new surgeon customers are not offset by revenues lost by surgeon customers no longer using the Company’s products. The words "believe," "will," "should," "expect," "intend," "estimate," "anticipate," and “approximately” and variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. Please refer to the risks detailed from time to time in Alphatec Spine's SEC reports, including its Annual Report Form 10-K for the year ended December 31, 2014, filed on February 27, 2015 with the Securities and Exchange Commission, as well as other filings on Form 10-Q and periodic filings on Form 8-K. Alphatec Spine disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.
CONTACT: Investor/Media Contact:
Christine Zedelmayer
Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
czedelmayer@alphatecspine.com
